en.Wedoany.com Reported - South African electric vehicle charging company GridCars plans to deploy large truck charging infrastructure at three sites along major highways in the country over the next 12 months. These grid-connected charging stations will provide 650 kW DC fast charging, with charging times varying by truck brand and averaging approximately 45 minutes. CEO Winstone Jordaan stated that the company will finance construction through a combination of its own funds, debt, and investor capital.
Executive Advisor Shaun Maidment revealed that GridCars' target price range is between ZAR 4.50/kWh and ZAR 5.50/kWh, compared to current retail charging prices of up to ZAR 7.35/kWh on the market, which is a major barrier for commercial fleet operators transitioning to electric trucks. Commercial fleet operators generally believe that the cost of purchasing electric trucks is far higher than that of diesel trucks, and they cannot quickly achieve breakeven under the current high charging prices. To achieve the target price, GridCars plans to purchase electricity during off-peak hours from South Africa's national power utility Eskom, through wheeling agreements, and from independent power producers, combined with battery energy storage to maintain this price throughout the day. Maidment noted that electric trucks only make economic sense within the price range of ZAR 4.50 to ZAR 5.50/kWh, and the company is confident it can achieve this goal.
Jordaan pointed out that fleet operators and truck manufacturers have confirmed there is significant pent-up demand for electric trucks in South Africa, provided the price is right. In recent months, this demand has shown strong growth due to fuel price spikes caused by the Iran conflict. During the same period, GridCars' home EV charger installations grew by 180%. Jordaan stated that there are currently approximately 7,000 home chargers in South Africa. Maidment believes that the EV transition has reached a tipping point as more affordable electric vehicles continue to enter the local market.
Since installing its first EV charger on the campus of the Council for Scientific and Industrial Research in Pretoria in 2009, GridCars has grown from a one-person company to 30 employees. The company moved into its new headquarters in Muldersdrift earlier this year, expanding office space from 200 square meters to 800 square meters and establishing a 24-hour call center. Currently, GridCars offers smart connected home charging solutions and installs and manages approximately 75% of South Africa's public charging network, which consists of about 700 chargers. Some chargers that have been in operation for ten years are being refurbished. The company also provides depot and selected route charging solutions for bus and truck fleet operators, as well as consulting services.
Earlier this year, after renewable energy group Solareff exited, GridCars welcomed new majority investor Energex, which acquired a 75% stake. Energex is part of the same family business as ABC Solar, which has established a strategic alliance with Huawei Fusion Solar, a subsidiary of global technology giant Huawei.
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